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Leocor Mining Proposes Pro Rata Distribution of Intrepid Metals Shares to Shareholders
Vancouver, British Columbia (April 9, 2026) - TheNewswire – Leocor Mining Inc. (CSE: LECR, OTCQB: LECRF, Frankfurt: LGO0) (“Leocor” or the “Company”) (formerly
About this update from Leocor Mining Inc.
[{"type":"text","content":"Vancouver, British Columbia (April 9, 2026) - TheNewswire – Leocor Mining Inc. (CSE: LECR, OTCQB: LECRF, Frankfurt: LGO0) (“Leocor” or the “Company”) (formerly Leocor Gold Inc.) is pleased to announce a proposed distribution (the “Distribution”) of up to all of its 17,647,058 common shares of Intrepid Metals Corp. (TSXV: INTR) (“Intrepid”), representing approximately 15.09% of the issued and outstanding Intrepid shares as of the date hereof, to shareholders of the Company on a pro rata basis. The final number of Intrepid shares to be distributed will be determined by the Company’s board of directors, having regard to, among other things, the objective of achieving a tax-efficient outcome for the Company and its shareholders. Alex Klenman, Chief Executive Officer of Leocor, stated “consistent with our commitment to creating and delivering value for our shareholders, we are pleased to provide our shareholders with the opportunity to participate directly in the continued advancement of Intrepid through the proposed pro rata distribution of up to all of the Intrepid shares owned by the Company, while maintaining our strategic focus on advancing our gold-copper exploration portfolio in Atlantic Canada, including our contiguous land package in the Baie Verte Mining District. We believe this structure provides an efficient and shareholder-aligned means of unlocking value from our investment in Intrepid while ensuring fair and equal treatment for all shareholders.” The Company intends to effect the Distribution by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”), pursuant to which the Company’s outstanding common shares will be reorganized such that each existing common share will be exchanged for: (i) one new common share of Leocor (a “New Leocor Share”), having the same attributes as the existing common shares; and (ii) a pro rata entitlement to the Intrepid shares to be distributed. Completion of the Arrangement will require approval by not less than 66⅔% of the votes cast by Leocor shareholders at an annual general and special meeting of shareholders (the “Meeting”), as well as approval of the Supreme Court of British Columbia. The Arrangement is also subject to acceptance by the Canadian Securities Exchange (the “CSE”), including the listing of the New Leocor Sha...